According to CryptoQuant’s data, reserves are 100% clean, compared to 94% for Binance and 61% for Huobi.
OKX’s February Proof-of-Reserves Report Has Showed $8.6B in ‘Clean Assets’
February Proof-of-Reserves report showed that OKX is overcollateralized with a reserve ratio of 104% for bitcoin (BTC), 104% for ether (ETH), and 102% for USDT. The exchange informed that over 175,000 unique users have visited its Proof-of-Reserves page since its launched the last year.
“Proof of Reserves is far from a niche topic – it is of vital importance to building user trust and we are dedicated to ensuring OKX shows continued leadership in this area,” OKХ Managing Director of Financial Markets Lennix Lai said in a release.
Previous Reports
Previously in January, the exchange released a report showing it had $7.5 billion in clean assets. The cleanliness of resources alludes to a metric created by CryptoQuant which measures how dependent an exchange is on its local token. CryptoQuant data shows that OKХ continues to have an entirely clean reserve compared to Binance’s ‘cleanliness’ at 94% and Huobi’s 61%.
January Haider Rafique, OKX’s chief marketing officer, specifically appointed: “The native token was never a big part of our business or treasury. Our native token was always designed to engage our most active customers and give them a way to seek discounts through activity on the platform.”
OKX’s token, OKB, is currently trading at $52.35, according to CoinGecko data, up 28.4% on-week.
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